Introducing Bitcoin payments!

We are happy to announce that it is now possible to pay for BIDs with bitcoins. Would you like to recharge your account easier, faster, and for less? Bitcoin payments are just the thing! Today, we explain how to use them and what makes them so great.

If you have never heard about “cryptocurrencies”—cryptography-based alternative digital currencies—you should probably start with a user-friendly primer on the subject. You can find one, for example, on bitcoin.org.

If you already have a Bitcoin wallet you can recharge your Wellbid account in just a few easy steps. Go to the Price List page and look for an orange box marked with the “฿” symbol. Click the “Recharge” button to open the payment detail window. You will see the current price of 1 BID in bitcoins (BTC), as well as a unique, single-use payment address. Copy the address (either manually or by scanning the QR code) to your wallet, enter the amount you wish to transfer and a suitable transaction fee for the Bitcoin network, then click “Send.” That’s all! Your account will be recharged automatically as soon as the transaction is confirmed (typically, within 10-60 minutes).

You need to keep two things in mind:

Processing time for Bitcoin payments depends largely on the transaction fee you pay. Most wallets calculate a suitable amount automatically. Do not change it unless you know what you’re doing. If the fee is too low, your payment may take very long to confirm (or, in the worst case, never confirm at all).

A new, dedicated address is generated for every transaction. Make sure to initiate every payment from the Price List page. Do not send another payment to an address you have already used!

What are the benefits of Bitcoin payments? First of all, they are easier than card payments and faster than wire transfers. At the same time, they provide very high level of security. This will appeal especially to anyone reluctant to enter their credit card or bank account details on the web. Second, they allow you to buy exactly as many BIDs as you need. Transfer any BTC amount and it will be exchanged into BIDs at the rate shown in the payment window. Last, but definitely not least, they help you get the best possible deal. Paying with bitcoins, you buy BIDs at the lowest price!

The number of Bitcoin users keeps growing. Become one of them today and get the most out of your Wellbid experience!